Megachem Limited announced retirement of Lee Bon Leong as Independent Director and Non-Executive Chairman, Chairman of the Nominating Committee as well as a member of each of the Audit and Remuneration Committees. Reason For Cessation: Mr. Lee Bon Leong will retire from office at the Annual General Meeting of the Company to be held on 19 April 2024. He will relinquish his position as Independent Director and Non-Executive Chairman, Chairman of the Nominating Committee, and a member of the Audit and Remuneration Committees.

After having interviewed Mr. Lee and to the best of its knowledge, the Company's Sponsor, SAC Capital Private Limited, is satisfied that, save as disclosed in this announcement, there are no other material reasons for the retirement of Mr. Lee as an Independent Director and Non-Executive Chairman of the Company.